Bayforest Capital Ltd Sells 1,685 Shares of Range Resources Corporation $RRC

Bayforest Capital Ltd decreased its position in Range Resources Corporation (NYSE:RRC) by 65.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 892 shares of the oil and gas exploration company’s stock after selling 1,685 shares during the quarter. Bayforest Capital Ltd’s holdings in Range Resources were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Range Resources by 98.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 18,035 shares of the oil and gas exploration company’s stock worth $720,000 after buying an additional 8,941 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Range Resources by 24.5% in the fourth quarter. Ameriprise Financial Inc. now owns 423,822 shares of the oil and gas exploration company’s stock valued at $15,249,000 after purchasing an additional 83,353 shares during the last quarter. Informed Momentum Co LLC purchased a new stake in shares of Range Resources during the first quarter valued at approximately $3,575,000. Advisor Resource Council bought a new position in shares of Range Resources in the first quarter worth approximately $622,000. Finally, Goehring & Rozencwajg Associates LLC grew its holdings in Range Resources by 1.8% in the 1st quarter. Goehring & Rozencwajg Associates LLC now owns 1,435,376 shares of the oil and gas exploration company’s stock worth $57,803,000 after acquiring an additional 25,403 shares during the last quarter. Institutional investors own 98.93% of the company’s stock.

Range Resources Price Performance

RRC opened at $35.35 on Friday. The stock has a fifty day simple moving average of $35.39 and a two-hundred day simple moving average of $36.98. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.42 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 0.30 and a beta of 0.55. Range Resources Corporation has a 12-month low of $28.91 and a 12-month high of $43.50.

Range Resources (NYSE:RRC) last posted its quarterly earnings data on Tuesday, July 22nd. The oil and gas exploration company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $856.28 million during the quarter, compared to the consensus estimate of $708.38 million. Range Resources had a return on equity of 15.95% and a net margin of 17.22%.During the same quarter in the prior year, the company earned $0.46 earnings per share. Research analysts predict that Range Resources Corporation will post 2.02 earnings per share for the current fiscal year.

Range Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.36 dividend on an annualized basis and a yield of 1.0%. Range Resources’s dividend payout ratio is 18.09%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RRC. Wall Street Zen lowered shares of Range Resources from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Barclays raised their price target on shares of Range Resources from $39.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, July 7th. Bank of America raised their price target on shares of Range Resources from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. UBS Group decreased their target price on Range Resources from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, August 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 target price on shares of Range Resources in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $42.75.

Range Resources Profile

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.